Ontario's Liberal government will announce this morning that it plans to sell off 60 per cent of Hydro One and allow the sale of beer in some grocery stores.
CBC has confirmed the details of a report to be released this morning into how Ontario's Liberal government can squeeze more money out of big Crown assets such as the Liquor Control Board of Ontario (LCBO) and Hydro One, the province's electrical transmission utility.
CBC News has also confirmed that current Hydro One chair Sandra Pupatello will soon be succeeded by David Denison, former president and CEO of the Canada Pension Plan Investment Board.
The report comes ahead of the provincial budget, which is set to be released on April 23.
The province will retain a 40 per cent stake in Hydro One, and no minority shareholder will be able to buy more than 10 per cent of the company.
Ontario's opposition parties have warned that a sale of Hydro One will drive up electricity prices, something the Liberals warned would happen when the Tories wanted to privatize it in 2002.
Premier Kathleen Wynne said Wednesday the government would retain majority ownership and would make sure consumers are protected against price hikes.
The panel will also recommend that Ontario expand beer sales to more retail outlets.
There were reports the government was planning to allow the sale of wine in grocery stores, but it now appears that change won't come right away.
In an interim report, the panel headed by former TD Bank CEO Ed Clark rejected that the province sell the LCBO, but proposed major changes to the retail system to give consumers more access, especially to beer.
He wants the foreign-owned Beer Store to pay a fee for its virtual monopoly on 80 per cent of beer sales, so Ontario taxpayers get a "fair share" of its profits.
Wynne has said she wants consumers to have more access to beers from Ontario's craft brewers, who complain the Beer Store makes it difficult -— and expensive — to list their products in its 448 retail outlets.
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